MEI Pharma (NASDAQ:MEIP) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued to investors on Thursday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Trading Down 1.2 %

NASDAQ:MEIP opened at $2.56 on Thursday. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $4.33. The firm’s 50 day moving average is $2.68 and its 200 day moving average is $2.83. The stock has a market capitalization of $17.06 million, a PE ratio of -0.45 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. Research analysts predict that MEI Pharma will post -5.1 earnings per share for the current year.

Hedge Funds Weigh In On MEI Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank bought a new stake in shares of MEI Pharma in the fourth quarter valued at approximately $62,000. World Investment Advisors LLC purchased a new position in MEI Pharma in the 3rd quarter valued at approximately $71,000. Corsair Capital Management L.P. bought a new stake in MEI Pharma during the 3rd quarter valued at $69,000. Northern Trust Corp lifted its position in shares of MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after acquiring an additional 12,561 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of MEI Pharma during the fourth quarter worth $26,000. Institutional investors own 52.38% of the company’s stock.

About MEI Pharma

MEI Pharma, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.